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Litecoin Price Analysis: LTC/USD bulls dealt a rejection blow

  • Litecoin price is trading in negative territory by 0.30 % in the session on Friday. 
  • LTC/USD pressure is back on to the downside, after the exponential gains on Thursday. 
  • The next major area of support will be eyed back down at the $40 mark.
Litecoin Price Analysis: LTC/USD bulls dealt a rejection blow
Ken ChigboKen ChigboIndependent Analyst

LTC/USD daily chart

Price action has retested a breached bear flag and has so far been dealt a rejection, leaving the door open to another drop. 

LTC/USD 60-minute chart

Given the current price behaviour, there is a risk of a reversal of the gains made in the period session. Bears broke out of a narrowing triangular structure to the downside. 

Spot rate:               42.04

Relative change:  -4.35%

High:                      42.79

Low:                       41.67

LTC/USD

Overview
Today last price42.0084
Today Daily Change-0.5561
Today Daily Change %-1.31
Today daily open42.5645
 
Trends
Daily SMA2041.4752
Daily SMA5044.529
Daily SMA10054.9879
Daily SMA20052.893
 
Levels
Previous Daily High43.767
Previous Daily Low37.9812
Previous Weekly High47.6578
Previous Weekly Low39.9638
Previous Monthly High63.9927
Previous Monthly Low24.9467
Daily Fibonacci 38.2%41.5568
Daily Fibonacci 61.8%40.1914
Daily Pivot Point S139.1081
Daily Pivot Point S235.6518
Daily Pivot Point S333.3223
Daily Pivot Point R144.8939
Daily Pivot Point R247.2234
Daily Pivot Point R350.6797

Author

Ken Chigbo

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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